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I am truly stepping out on this one, however in my many years, and believe me there have been many, I have learned that the best way to control your life is to understand and have a working knowledge of those things that will allow you to meet everyday prepared with a sword of defense.
In raising six children, who are all gone from home now, I have always wanted to arm them with information so that they can have a great life and enjoy within reason those things that they need, not want. At the present time I caution them on unneeded purchases, watch out for any debt, yet invest wisely as we live in very unstable times.
I was emailed an article that gave me some great understanding of where the economy truly stands today. A major concern pertaining to the economy and any hopes of a recovery is the unemployment figures. I learned more in depth about the degrees of the “U” (Unemployment) factor released by the Bureau of Labor Statistics. Did you know that the U-3 rate is 9.7%? Of course you do as it is on the news and in front of us constantly. Here is my new area of knowledge: “U-6.”
The U-6 figure of unemployment is as close to the true realistic unemployment figure as you can get. This figure contains the official unemployment rate, and then includes discouraged workers, who are people that are available for work but have stopped actively seeking work. It also includes the marginally attached workers who are able and willing to work but is not actively seeking work. Now, the last additive to the number are those that are forced to work part-time because they are not able to find a full time job.
My concern in educating my children and attempting to stay on the leading edge knowledge wise in order to keep my sword of defense as sharp as possible is driven from many things, however, more so being that the U-6 figure presently sits at 17.9%, a far cry from the 9.7% that we are told on a daily basis.
Be sure you are keeping up with this, and other statistics, that affect your world and those around you. This will help you make informed decisions and help you inform others who rely on you to make theirs.
Seems like we should add U-10++ to the other U factors? Considering the many trades relating to housing, like building contractors, independent contractor, subcontractors, material logistic’s, plus the many related sources of financing or refinancing real estate loans, etc! Since many of them don’t qualify for unemployment benefits, perhaps the factor is well over 30% in many areas?
Thanks for the GREAT no-sugar coating Blog, Dennis! I read in the Contra Costa Times that California lost 871,000 jobs in 2009 and fewer than 1 in 5 college grads had a job at graduation.
http://www.contracostatimes.com/search/ci_14255038?IADID=Search-www.contracostatimes.com-www.contracostatimes.com&IADID=Search-www.contracostatimes.com-www.contracostatimes.com
Elaine, you know me – understand the market and those thing affecting and move forward eduating, elightening and giving true direction.
a wise old man once told me “figures can lie and liars can figure” You will forever be missed Denny but never forgoten!
Can anyone figure out why some people are able and willing to work but still not actively seeking jobs? Is it related to unemployment benefits again?
I recently attended a presentation where the speaker gave similar information and stats. They even added factored in people who are self-employed, but barely making a living. Scary statistics out there!